On February 2, 2021, Hi-Target Navigation Tech Co.,Ltd (SZSE:300177) closed the transaction. The company has issued 60,931,891 common shares at a price of CNY 8.37 per share for the gross proceeds of CNY 509,999,927.67. The transaction included participation from China Galaxy Securities Co., Ltd. (SEHK:6881), China North Industries Group Corporation, Guangdong Hangtianyun Manufacturing Industry Investment Fund Partnership (Limited Partnership), Bosera Capital Management Co., Ltd., Zhuhai Jinfeng Chuangsheng Investment Management Co., Ltd., Zhenjiang Galaxy Venture Capital Co., Ltd., Zhenjiang Hi-Tech Venture Capital Co., Ltd., Dacheng Fund Management Company Limited, Caitong Fund Management Co., Ltd., Xu Feng and Lin Lifen.

The company has paid CNY 9,373,662.14 as issuance expense.